WHO DOES “YOUR” REAL ESTATE AGENT WORK FOR?

The answer to that question may depend on where you live (what state). If you live in Wisconsin and are a buyer looking for real estate, you might be surprised to learn that the real estate agent who has been showing properties to you — “your” real estate agent — is not working for you at all. In Wisconsin, if you want to be the “client” of a real estate agent you must have a written Buyer Agency Agreement with that agent. Otherwise, the agent is not “your” agent, they are the seller’s agent (either directly through a property listing agreement or by sub-agency through the MLS).

And what does that mean? Basically, it means that the agent’s job is to get the best deal possible for the seller. At some point in your dealings with the agent — before you actually begin any negotiating on a property — it also means that the agent must provide a written agency disclosure to you.

As the seller’s agent, the agent is still obligated to be completely truthful and honest in all their dealings with you. They are obligated to make full disclosure of any adverse material facts known to them about any property they show to you. They are obligated to provide you with market information if you request it. As the seller’s agent, they cannot advise you what to offer for a property.

If you opt to sign a Buyer Agency Agreement, the agent’s “loyalty” shifts from the seller to you. If you want to know more about the Buyer Agent option, please get in touch with me. I will be happy to e-mail more information about it to you.